A change in which of the following causes a movement along a given demand curve for a normal good? * Consumer income The demand for the good The price of the good The price of a substitute good The number of buyers Which of the following will initially result from an increase in the market demand for a good? * Total producer surplus in the market will decrease. There will be a matching increase in supply. There will be a decrease in quantity supplied. The equilibrium price will decrease. There will be a temporary shortage at the original equilibrium price.
A change in which of the following causes a movement along a given demand curve for a normal good? * Consumer income The demand for the good The price of the good The price of a substitute good The number of buyers Which of the following will initially result from an increase in the market demand for a good? * Total producer surplus in the market will decrease. There will be a matching increase in supply. There will be a decrease in quantity supplied. The equilibrium price will decrease. There will be a temporary shortage at the original equilibrium price.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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